Interim Management Statement

ProVen VCT plc
Interim Management Statement
for the two months ended 31 October 2010

In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK
Listing  Authority, ProVen VCT plc presents  an Interim Management Statement for
the two month period ended 31 October 2010. The statement also includes relevant
financial  information  between  the  end  of  the  period  and the date of this
statement.

Dividends declared in the period
There  were no dividends paid or declared in the period or in the period from 1
November 2010 to the date of this announcement.

Performance
Ordinary Shares
                           31 Oct 2010   31 Aug   31 May 2010   28 Feb
                                           2010                   2010

                                 Pence    Pence         Pence    Pence

 Net Asset Value ("NAV")         51.40    47.80         57.50    54.80

 Cumulative Dividends           101.45   101.45         93.45    93.45

 Total Return *                 152.85   149.25        150.95   148.25

* NAV plus cumulative dividends paid since launch of Company

 'C' Shares
                        31 Oct 2010 31 Aug 2010 31 May 2010 28 Feb 2010

                              Pence       Pence       Pence       Pence

Net Asset Value ("NAV")       71.00       71.40       72.70       75.50

Cumulative Dividends           4.75        4.75        4.75        4.75

Total Return *                75.75       76.15       77.45       80.25

* NAV plus cumulative dividends paid since launch of 'C' Share fundraising

'D' Shares
                        31 Oct 2010 31 Aug 2010 31 May 2010 28 Feb 2010

                              Pence       Pence       Pence       Pence

Net Asset Value ("NAV")       92.30       92.30       92.50       92.20


Quoted  investments are  valued at  the closing  bid price  at 31 October 2010.
Unquoted   investments   are   valued  at  fair  values  established  using  the
International Private Equity and Venture Capital Valuation Guidelines.

Investment portfolio summary at 31 October 2010

Ordinary Share Portfolio summary
                                          Valuation

                                              £'000

 Venture capital investments

 Espresso Group Limited                       3,342

 SPC International Limited                    1,448

 Saffron Media Group Limited                  1,352

 Eagle Rock Entertainment Group Limited       1,114

 Donatantonio Limited                           551

 Overtis Group Limited                          498

 Think Limited                                  470

 Tossed Limited                                 468

 Campden Media Limited                          463

 Pilat Media Global plc                         415

 Other investments                            1,019
                                        ------------
                                             11,140

 Cash at bank and other liquid funds          1,884
                                        ------------
 Total                                       13,024


'C' Share Portfolio investments summary
                                       Valuation

                                           £'000

 Venture capital investments

 Fjordnet Limited                          1,168

 Lazurite Limited                            984

 Charterhouse Leisure Limited                865

 Donatantonio Limited                        838

 SPC International Limited                   488

 Think Limited                               470

 Speed-Trap Holdings Limited                 470

 Chess Technologies Limited                  453

 Overtis Group Limited                       399

 Tossed Limited                              345

 Other investments                         1,196
                                     ------------
                                           7,676

 Cash at bank and other liquid funds       2,682
                                     ------------
 Total                                    10,358


'D' Share Portfolio investments summary
                                       Valuation

                                           £'000

 Venture capital investments

 Speed-Trap Holdings Limited                 300

 Tossed Limited                              183

 Monica Vinader Limited                      138

 Senselogix Limited                           69
                                     ------------
                                             690

 Cash at bank and other liquid funds       6,968
                                     ------------
 Total                                     7,658


Investment activity during the two month period ended 31 October 2010

Additions
                                 'C'   'D' Pool
                                Pool

                               £'000

 Speed-Trap Holdings Limited     470        300

 Monica Vinader Limited          224        138

 Senselogix Limited              112         69
                             -------------------
                                 806        507


There were no Ordinary Share portfolio investment additions in the two month
period ended 31 October 2010.

Disposals
Ordinary Share                                                          Realised
pool             Cost  Market value       Disposal  Gain against    gain/loss in
                          at 1 Sept       proceeds          cost          period
                               2010

                £'000         £'000          £'000         £'000           £'000

Ashford Colour    125           125            125             -               -
Press Limited

Sports Holding     37            37             37             -               -
Limited
               -----------------------------------------------------------------
                  162           162            162             -               -


There were no 'C' Share or 'D' Share portfolio investment disposals in the two
month period ended 31 October 2010.


Investment activity from 1 November 2010 to the date of this report

Ordinary Share Portfolio Investment addition
                       £'000

 Breeze Tech Limited      17
                     --------
                          17


'C' Share Portfolio Investment addition
                    £'000

 Fjordnet Limited     276
                  --------
                      276


There  have been  no investment  additions for  the 'D'  Share portfolio from 1
November 2010 to the date of this announcement.

There have been no investment disposals from 1 November 2010 to the date of this
announcement.

Changes to share capital
                                Ordinary Shares       'C' Shares      'D' Shares

                                   Shares £'000     Shares £'000    Shares £'000

As at 1 September 2010         25,376,474 1,269 14,531,317 3,633 8,218,712    82

Shares issued during 2 months
to 31 October 2010                      -     -          -     -    51,119     1

Shares bought back during 2
months to 31 October 2010               -     -          -     -         -     -
                              --------------------------------------------------
As at 31 October 2010          25,376,474 1,269 14,531,317 3,633 8,269,911    83


Material events
Other than described above, there were no material events during the period from
1 September 2010 to 31 October 2010 or in the period from 1 November 2010 to the
date of this announcement.







This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Proven VCT plc via Thomson Reuters ONE

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